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LINKTV
Sep 30, 2013 2:30pm PDT
proportions. why did these two events affect inflation and unemployment in the american economy? u.s. society was besieged by the twin assaults of inflation and unemployment in the 1970s. why couldn't the government achieve significant success against the ravages of stagflation? in the late 1990s, the economy was booming. unemployment was at a 30-year low and inflation was also at a 30-year low. did that mean inflation was dead? during the 1970s the american dream threatened to become the american nightmare. for the first time, we were faced with skyrocketing prices and exploding unemployment. stagflation -- why couldn't we beat it? with economic analyst richard gill we'll explore that question on this edition of "economics usa." i'm david schoumacher. schoumacher: since the passage of the employment act in 1946, it has been accepted policy for the government to fight unemployment by stimulating total demand. often, inflation resulted. when that happened the government shifted gears and clamped down on demand in order to decrease inflation. for five administrations the government more or less
Al Jazeera America
Oct 3, 2013 5:00pm EDT
of washington. we want to continue our discussion on the impact this is having on the real word and the economy. joining us is adam, and back here in the studio, a usa reporter who focuses on congress and the treasury department. turning to you first, richard, how great is the impact of this shutdown, and does it really matter how many days it goes on for? >> well, let's look at the history. in recent years we have had a whole slew of shutdowns, lasting from one day to 21 days. the long-term impact of that is hard to see. it's not overwhelming. much of what we need from the government continues as even the president has admitted. so i think this is 80% political theatrics of the two parties, each trying to appeal to their respective base. the republicans demonizing the government, and the democrats that the america will be helped with intervention. when the dust settles, we'll get on with our business. >> adam hersh clearly in a macro sense not much, but for individuals? >> for individuals and in a macro sense i think this is a significant event for the economy. this is not just about the 800,0
LINKTV
Sep 30, 2013 2:00pm PDT
the banking system against panics, acquired more power to affect the economy than even it imagined at theutset. the federal reserve: does money matter? with the help of economic analyst richard gill, we'll explore that question on economics usa. i'm david schoumacher. coins, bills, checks-- our basic money supply. the amount of money and where it goes wiin the banking sysm has en the main concern of our nation's central ba. at t fed's heauarters here in washington, dc, closedeliberatio are held bs who continuously monitorourh and prescribe remedies. how did these experts prescribe a remedy that plunged us even deeper in the great depression? early in the0th century, american banks operated with little regulation and great vulnerability. in 1907, that vulnerability became apparent when depositors lost confince short-termoa,tir money.e nkt and many colpsed. it took a powerful bankenfince short-j.p. morgan,oney.e nkt but should an entire country be dependent on an individual's whim? a central bank, a lender of last resort, seemed better solution. just before christmas of 1913, esident wilsonigd e
PBS
Oct 1, 2013 7:00pm PDT
economy, and unlike in 1996, our economy is still recovering from the worst recession in generations. we know that certain services that american seniors and veterans depend on must be put on hold. certain offices, along with every national park and the monument must be closed, and while last night i signed legislation to make sure our one point 4 million active-duty military are paid through the shutdown, hundreds of thousands of civilian workers, many still on the job, many forced to stay home, are not being paid, even if they have families to support and local businesses that rely on them. and we know that the longer this shutdown continues, the worse the effects will be. more families will be hurt, more businesses will be harmed. so, once again, i urge house republicans to reopen the government, restart the services americans depend on, and allow the public servants who have been sent home to return to work. this is only going to happen when republicans realize they do not get to hold the entire economy hostage over ideological demands. as i have said repeatedly, i am prepared to wor
Al Jazeera America
Oct 1, 2013 1:00pm EDT
the government in 1996 it hurt our economy. and unlike 1996 our economy is still recover from thing from tt recession in generations. we know certain services and benefits that seniors, veterans and others must be put on old. certain offices and every national park and monument must be closed. while last night i signed legislation to make sure that our 1.4 million active duty military are paid through the shutdown, hundreds of civilian workers, many still on the job. many forced to stay home, aren't being paid. even if they have families to support and local businesses that rely on them. and we know that the longer this shutdown continues, the worst the affects wil effects will be. more families will be hurt, more businesses will be harmed. once again i urge house republicans to reopen the government, restart the services that americans depend on and allow the public servants who have been sent home to return to work. this is only going to happen when republicans realize they don't get to hold the whole economy hostage over ideological demands. i said repeatedly i'm set to work with republi
FOX Business
Sep 29, 2013 1:00am EDT
caps on benefits, it's going to be a huge boon to the economy. a cost saver and a driver of business. >> gary b., you've been holding yourself back during that talk. ahead. take him on. >> i wish i could believe bernard's rosy scenario, but i'm trying to come up with off the top of my head other massive government programs that have been a boon to the economy. i can't think of any. you know, normally as john points out they are horribly inefficient. this is going to be, i think, the big dig, if you will, the boston construction project, that was billions over budget, and years over estimate of all government programs. but the thing i want to key on is one, what's going to happen to premiums? across the board, it looks like younger people will pay a lot more in premiums. it's to be determined how much they'll get back as far as credits, but initially the premiums will go up. two, the even bigger concern is the quality of health care. you know, price waterhouse has already studied this. and some major providers have been overlooked in this whole thing. why? because government wants to
SFGTV2
Sep 30, 2013 2:00pm PDT
produce 50 of the out put and people are driving in the economy but economic stagnation and federal gridlock are skooegz the federal government service. add in the pressures of rooirz temperatures and the countries face to daunting channels. urban america needs a new playbook and we'll take a look at that. we have 3 guests mayor ed lee. and the president of the urban management one of the countries largest home bindles and a co- author of how the city's are fixing our fragile developed. please welcome them to planet one. (clapping). thank you gentlemen all for coming. bruce cats let begin with you. we'll get down to some specification. you write that the great recession was a rude way. call thrills about that. first of all, that you for letting me be here. i think what led to the great recession was a miss guided growth model which basically said we can grow an economy consumed by department and focus on the meveng around homebuilding but the funds would tells us we need to grow an economy and debris i quite frankly as president in the region it's fueled by ideas and manufacturing
PBS
Oct 4, 2013 5:30pm PDT
on the nation's economy, and risks of the nation defaulting on its debt. >> the impact of the government shutdown on the u.s. economy really depends on how long it lasts. so if it only lasts maybe a couple more days, and it's resolved next week, we expect the economic impact to be pretty minimal. so we're talking about fourth-quarter gdp growth that's maybe about 0.2 of a percentage point lower than it would have been. if, however, the shutdown lasts longer, if it lasts two or three weeks, even four weeks, like it did back in 1995-1996, we could actually see a decline in fourth-quarter gdp, and the economic impact would be much, much more severe. we also have to remember there's about 800,000 federal workers that are laid off right now without pay. when that happened in '95-'96, they were paid retroactively when the government opened up again. so that's good, but in the meantime, we're missing a lot of consumer spending, discretionary spending in the economy. we think that the shutdown will probably be resolved sometime next week, and i think the bigger risk right now is negotiations ove
Al Jazeera America
Sep 28, 2013 8:30am EDT
>>> prepare for a government shutdown, some parts of the economy will suffer more than others. we will explain what it means for you. and the affordable care act may effect the care you get at your local hospitals, and plus some investors are putting a price tag on how much you are worth. i'm david shuster in for ali money." ♪ >>> this is "real money" and you the most important part of the show, so join our live conversation for the next half by using the twitter hashtag ajrealmoney. the government is now down to the wire to avoid potential drags on the u.s. economy. the first comes october 1st, and on friday the sense of uncertainty was captured by the u.s. senate chaplain. >> lord deliver us from governing by crisis. >> but crisis is now where things are headed. the republican-lead house said it is unwilling to consider an emergency spending bill that just passed the senate, because the senate bill didn't kill obamacare with house reasoning refusing to drop testify that fort, stocks closed lower for the sixth straight day as investors worried the government will shut down octo
Al Jazeera America
Sep 28, 2013 5:00pm EDT
% in the last year alone. >> well, basically sanctions have affected the economy of this country, there is no doubt about it. but let's not forget the sanctions imposed on iran by some western countries are also affected. like france and britain. it is a two-way street. it is not in the best interest of any of the countries. those who are imposing the sanctions and those who are subject to the sanctions. yes, iranians are not happy with the sanctions but i think this is also vice versa. >> one out of four people are without a job. inflation is at 42%, and currency has lost half it's value. how optimistic are you that changes are coming? >> one thing is for sure. changes, and the lifting of the sanctions will not solve the problem. iran has number of structural problems with its economy. what used to be a private sector is more and more disappearing. it had a mismanaged and many have failed to bring successful economic products to the market. at the end of the day the sanctions contribute to all that. without the up rooting of nepotism and corrupt elements of the economy there is
Al Jazeera America
Oct 1, 2013 5:00am EDT
and genicide in the civil war. the tax that could revitalize japan's economy may keep customers out of the shops. and the largest show of military strength in south korea in a decade, the ceremony to mark the founding of the armed forces. ♪ hello and part of the u.s. government are being shut down, workers are temporarily laid off and offices are closing and tourist attractions won't be opening because politicians could not agree on a new budget for the coming year. democrats and republicans are blaming each other. >> the reason we are here today is that the speaker of the house refused to name budget negotiators in the senate blocked budget negotiations. why would they do that? because you have to compromise when you go to a budget negotiation, compromise on the budget, they didn't want to do that. so instead we have a very deliberate and very calculated strategy, not to go through those negotiations but to wait until the government is on the precipice of shut down. >> it is unfolding on capitol hill in washington d.c. >> despite a last-minute offer to negate by republicans in th
FOX Business
Oct 1, 2013 10:00pm EDT
. >> they are attempting to extort the american people and the economy to get the partisan objectives. and i can only echo the republican house member who accused his colleagues of being suicidal lemmings. >> again we're not asking for anything in return for them to do the fundamental responsibility without trauma or delay. >> referring to the congressman of california that itell on house republicans the attacks of health care are getting old that the white house hopes is a sign of the g.o.p. what to do next. lou: and henry. for the 19 hours as the government afraid of offending the house and senate are not a part -- a far apart on the deal the house -- the senate rejected any mention of obamacare in senator harry reid will not negotiate in any negotiation that could have avoided the showdown. like emmanuel has the latest for us from capitol hill. >> house republican leadership next pl has a veto threat from the white house that funding three emergency bill so veterans can get benefits and reopen the national parks and monuments to allow the district of columbia the government to function. this speaker so
SFGTV2
Sep 30, 2013 2:30pm PDT
the economy as a whole. this is the van ignore of the industrial reluctance we want to be at the head of it. we talk about portland. portland actually doubled exports in - >> in san francisco we don't think of that (laughter). >> i'm sure how san francisco would respond to that we're weirder but portland is betting on a because they were so smart at the metropolitan scale a tear down the freeway in the 70s they've attracted a lot of firms t 3 sell services. their brand is we build green cities. they're saying to the latin medical examiner cities you can break out and we can help you plan and supply those products. we innovative in the economy while export those services and products good jobs and a very different model. you know, i think we need to get beyond labels. the most of come out of washington, d.c. they're mostly ideological about what the economy is. we're mapped it, it's productive and cities will get about the business of developing fuels >> i want to follow up on cars you note in 1983 half of the americans have driver's license and only 29 percent today perhaps more cities
ABC
Sep 30, 2013 5:00pm EDT
disrupted the economy significantly. this one will, too. it will throw a wrench into the gears of our economy at a time when those gears have gained traction. five years ago right now our economy was in meltdown. today our businesses have created 7 1/2 million new jobs over three 1/2 years. the housing market is healing and our deficits are falling fast. the idea of putting the american people's hard earned progress at risk is the height of irresponsibility and it doesn't have to happen. let me repeat this. it does not have to happen. all of this is entirely preventable if the house chooses to do what the senate has already done and that is the simple act of funding our government without making extraneous and controversial demands in the process, the same way other congresses have for over 200 years. unfortunately, right now house republicans continued to tie funding to the government with ideological demands like limiting a woman's access to contraceptives or delaying the afd -- affordable care act after making promises to the extreme right of their party. let me be clear about this
CNN
Sep 30, 2013 11:00pm PDT
, three to four weeks, it could cost the economy $55 billion. now, you're just talking earlier about the last government shutdown in 1995-96. that cost the u.s., to put this in perspective, $1.4 billion, about $2 billion in today's dollars. it's because in past shutdowns, furloughed workers have gotten back pay, right? all the work that piles up during the government shutdown still needs to get done, so basically you're being paid for a vacation. closed parks, museums are more than just an inconvenience, john. that means lost revenue. congressional research estimates during the last shutdown they lost 9 million visitors to national parks, museums and monuments. that means entrance fees aren't collected, flights, restaurants, hotels. this shutdown could cost the u.s. even more. >> you mentioned the last time the government was shut down, dushg the '90s. the economy was so much better. a lot of people shrugged off this latest shutdown taking the stock market bounced back. this economy is not nearly as resilient as it was 17 years ago. >> that's right. very different. we're in uncharter
FOX Business
Oct 1, 2013 12:00am EDT
that senrs and veterans, women and children, businesses and our economy depend on would be hamstrung. business owners would see delays in raising capital, seeking infrastructure permits or rebuilding after hurricane sandy. veterans who have sacrificed for their countryill find their support centers unstaffed. tourists will find everyone of america's national parks and monuments from yosemite to the smithsonian to the statue of liberty immediately closed. and of course the communities and small businses that rely on these national treasures for their livelihoods out of customers and out of luck. in keeping with the broad ramifications of a shutdown, i think it is important that everybody understand the federal government is america's largest employer. more than 2 million civilian workers and 1.4 million active duty military serve in all 50 states and all around the world. in the event of a government shutdown, hundred of thousands of these dedicated public servants who stay on the job will do so without pay. and several hdred thousand more will be immediately and indefinitely furlough
Al Jazeera America
Oct 3, 2013 11:00am EDT
get are our national parks and monuments open again. what you get is the economy not stalling but continuing to grow. what you get are workers continuing to be hired. that's what you get. that's what you should be asking for. take a vote. stop this farce, and end this shutdown right now! if you're being disrespected it's because of that attitude you've got. you deserve to get something for doing your job. everybody here just does their job, right? you don't -- if you're working here and in the middle of the day you just stopped and said, you know what? i want to get something, but i don't know exactly what i'm going to get. i'm going to top working until i get something. i'm going to shut down the whole plant until i get something. you'd get fired! right? because the deal is you've already gotten hired and you've got a job and you're getting a paycheck, and so you also are getting the pride of doing a good job and contributing to a business and looking out for your fellow workers. that's what you're getting. it shouldn't be any different for a member of congress. unlike past s
FOX
Sep 30, 2013 5:00pm EDT
, women and children, businesses and our economy depend on would be ham strung. business owners would see delays in infrastructure permits or rebuilding after hurricane sandy. veterans will find their support centers unstaffed. tourists will find every one of america's national parks from owe similarity -- yosemite and smithsonian will be closed. in keeping with the broad ramifications of a shut down, it is important that everybody understand the federal government is america's largest employer. more than two million civilian workers and 1.4 million active duty military serve in all 50 states and all around the world. in the event of a shut down, hundreds that stay on the job will do so without pay. several hundred thousand more will be furloughed without pay. what will not is their tuition and car notes. these are our neighbors, their kids go to our schools. they worship where we do, they have served their country with pride. they are the customers of every business in this country. they would be hurt greatly and as a consequence, all of us will be hurt greatly should congress choose to
Al Jazeera America
Oct 1, 2013 3:00am EDT
of the military strength in a decade. attacks that could revitalize havjapan's economy but could kep customers out of the shops. >>> what is in a name? billions of dollars. what are the world's most recognizable and valuable global brands. ♪ -- hol hello parts of the u.s. government are shutting down. system tourist attraction are not opening. >> the democrats and republicans are blaming each other. >> the reason we are here today, is that the speaker of the house refused to name budget negoitators and the senate republicans blocked negotiations. why would they do that? you have to compromise when you gh tgoto a budget deliberation. they didn't want to do that. we have a deliberate strategy not to go to those goab yaitions yaition -- negotiations but wait to for the government shut do yoshutdown.>> well the federal e offer to try to negotiate by republicans in the house of representatives, that was an offer that was flatly rejected by the democrats in the u.s. senate because they said they would ow only consider a funding measure that would dismantle the healthcare law. the partial government sh
Al Jazeera America
Oct 2, 2013 5:30am EDT
of news and analysis all there for you. facili at what cost for you and the economy? an obama exchange is open for business. i will tell you what's next and answer some questions. i am ali velshi. this is "real money." >> this is "real money." you are the most important part of the show. the government may be shut down but twitter is still working. join our live conversation for the next half hour by using the hash tag ajrealmoney on twitter. let me show you, what congress and the president show to have been talking about for the last 10 months, but they haven't committed. some in congress have said they have taught with a continuing resolution or cr. you have heard that before. the budget is $3.6 trillion per year. 96 to medicare, another 19% to social security. both programs are mandatory. the congress can't mess with these, with those appropriations. 176 billion. only 5%. of the 3.6 trillion, only about half can be fiddled with, including military spending and non-defense spending of the that's about 21%, by the way, for military. the budget was enacted. this one, in april, 2009. th
CSPAN
Sep 30, 2013 8:00pm EDT
objectives. those were the selling points. health care is one sixth of the economy. therefore i think it's the right thing to fight over. that something that -- affects every american. we know already that premiums have skyrocketed under obamacare and they'll only grow worse. we also know that many major companies and smaller companies are stopping providing insurance to their employees. accessibility is going down as well. so obamacare has been a failure. why is it that the democrat party believes in it so bad even when it fails they can't let go? i don't think it's a bad thing to say, hey, you know what, we were wrong. we tried to decrease the cost of health care, tried to increase accessibility, but we did not achieve that. therefore maybe harry reid should sit down with speaker boehner. maybe the president of the united states can interrupt his negotiations with the iranians and come talk to the americans, i.e., republican americans. i think it would be a good thing. this again, mr. speaker, this will be our third attempt to work with the harry reid democrats to keep the g
NBC
Sep 29, 2013 5:30am PDT
the fundamentals of the market or the economy and that's what people have to keep focused on. >> what are you seeing from clients now? >> they're nervous. there's always been this wall of worry whether it's syria, iran, qe3 ending and now it's the debt ceiling. in some ways that's bullish. we have not had that flood gate open of funds flowing into equity. we think there's a lot of money that can and will move toward the equity market based upon the fundamentals we see. >> there's a lot of potential for new money to come in. we're ending the third quarter and about to get a lot of earnings. we already got the final gdp on thursday. it was unchanged. the economy growing at an annualized rate at 2.5%. not great growth. >> not great. >> how would you characterize the fundamentals? >> i think they're improving. what we look for, which is the key in the markets, we see the economy doing much better. we see next year the economy and u.s. growing over 3% the the u.s. economy, the private sector has already been growing 3 to 4% currently. what's taking that back down is the sequester to 1 to 2 percent
PBS
Sep 30, 2013 4:30pm PDT
on the prolonged shutdown on the economy and the consumer confidence. that weighed heavily on the markets today, the dow closed off the lows on the session, but still lost 28 points, the nasdaq and s&p lost about 10 points. despite that the major markets close out september and the third quarter of the year with solid gains, the dow up 1.4, the big point, nasdaq shooting up 10% in the past few months. >>> more on the battle of the shutdown as we inch closer midnight, eastern time. the republicans sending a bill back to the senate delays the portions of the affordable care act for another year. earlier senate democrats killed a very similar proposal and are expected to do the same thing again. following a meeting with the president of israel, president obama made a statement in front of the white house. >> all of this is entirely preventible if the house chooses to do what the senate has already done. and that is the simple act of funding our government without making extraneous and controversial demands in the process. the same way other congresss have for more than 200 years. >> and earlier to
SFGTV2
Sep 28, 2013 11:00pm PDT
and undocumented folks in san francisco that are not part of our official economy that are hiding. because of fear that will not participate in health prevention because of fear. because of that we have to have an immigration policy it is forward-looking and make sure there's a path to censorship[p. we're in a worldwide talent war. are we going to lose to other great cities or are we going to make sure we're getting the talent. i know the conversations are a bit sensitive but we're not taking anything away from our companies. i have investments in europe where we train residents to be part of the technology we have but at the same time certain areas need that worldwide talent. event pride is not just here for local customers but for events around the world. and that's true for every company in the chamber of commerce wants worldwide so immigration is part of their dna of recruiting talents to get the worldwide talents that are competent. i want to break in the african and latin america and our businesses to be represented all over the world because our sdm dna is about being a national city. san f
CSPAN
Oct 5, 2013 2:00pm EDT
and determination have been moving our economy and our country forward. in my home state of wisconsin, our state motto is one word: "forward." the people of wisconsin live up to that motto every single day, and i would say that all americans do as well. but as i stand here today in the midst of the fifth day of a government shutdown, i can't say that congress has. instead f working together to move our economy and our country forward, the republican leadership in the house has offered day after day of political games and brinksmanship. and here is the price, in wisconsin, more than 800,000 workers in the national guard are off the job, hardworking people who have committed homes to public service, to something bigger than themselves. they get up every day and work their our common good. they deserve to have a congress that does the same thing. you know, these are particularly tough times for my state. even as the national economy is rebuilding and rebounding, my state's economy has lagged behind the rest of the nation. and our economy cannot afford to have the tea party extremists in the house m
FOX Business
Oct 4, 2013 8:00pm EDT
of them and move forward. this is hurting our economy. they have said that within four days we will lose 2 percent of the gdp. it goes on for several weeks. they predict that we will lose percentage points. we cannot even get the jobs numbers. we should be working on manufacturing jobs, not manufacturing a crisis. this is a self-inflicted crisis. believe me, there are enough out there without stirring up was that we don't need to have. neil: and in your debt, congressman, in your gut lng think this last? >> well, i hope that next week we will meet and vote on a clean c.r. and move forward. if not we are going to be pushing up to the debt ceiling on october 17th. that is dangerous with a fragile economy. some economists say this puts us back into a recession which we could lose the dollar as a reserve currency for the first time. the full faith and credit of the nuys states would not be honored. the markets would fall. most people believe that we would not be crazy enough to do such a catastrophic thing for our economy. neil: we have been at the brink before. he will see what happens, congr
CNBC
Oct 1, 2013 4:00am EDT
, he says an american shutdown would throw a wrench into the gears of the u.s. economy. >> one faction of one party in one house of congress in one branch of government doesn't get the shutdown the entire government just to refight the results of an election. keeping the people's government open is not a concession to me. >> the president later issued a video message for u.s. troops stationed around the world. he noted he signed a bill into congress to ensure active duty military personnel would get their paychecks on time. >> steve sedgwick joins us live from london where global business leaders, steve, they must be react to go this u.s. shutdown in this morning. >> yeah, louise, it reminds me of a couple of weeks ago, syria was not on the agenda. this time around, we haven't got the shot youp, the debt ceiling on the agenda. but that seems to be one of the most pressing issues. i'm going to speak to scott, the cio, you have, what, 180 million under debt management. how long does this last? >> they have no incentives, the democrats or the republicans to get a deal done before the 17th
CSPAN
Oct 5, 2013 4:00pm EDT
.b.a. is essentially out of business. right now that is having a detrimental effect on our economy. i want to thank her for her great advocacy on behalf of small businesses throughout louisiana and across the country. mr. president, there's a lot truth to the fact that there can be mutual blame thrown around this place very often when it comes to the reasons why we have not solved a lot of our most vexing problem as a nation. the deficit, for instance, didn't get to be the size that it is without both parties playing a role and the fact that we still sit back without the will to try to take on that enormous problem and burden that we're leaving to our kids, that, i think, is due to both republican and democratic intransigence. so there are a lot of things that here which you can very accurately and appropriately assess that both sides of the aisle have been part of the blame. this is not one of them. this is not one of them. when it comes to trying to figure out the reasons why our government is shut down, it is pretty simple to explain how we got here. and yet i've heard a lot of my friends on the oth
CSPAN
Sep 28, 2013 6:00am EDT
be focusing as elected representatives of the people on strengthening the middle class. helping our economy grow more jobs. because if we don't have a strong middle class, we may as well turn off the lights. we're not going to create those jobs. we're not going to continue to be a leader in the world if we don't focus like a laser beam on creating middle-class jobs and helping grow the middle class so that they can buy that home, they can send their kids to college. for the life of me, i don't think any of us understand how shutting down our government and stopping services to the middle class, to that soldier's family, to that veteran who has come home, to that senior who relies on that meals on wheels lunch, how shutting the doors of government will help in any way to strengthen the middle class. but this is where we see ourselves. we would urge our republican colleagues to put country before party, to stop with this discussion that what governs in the house of representatives are party rules, not the rules of the house of representatives, not the rules provided to us by our statutes or c
FOX News
Sep 30, 2013 2:00pm PDT
and children, businesses and our economy depend on would be hamstrung. business owners would see delays in raising capital, seeking infrastructure permits or rebuilding after hurricane sandy. veterans who have sacrificed for their country will find their support centers unstaffed. tourists will find every one of america's national parks and monuments from yosemite to the smithsonian to the statue of liberty immediately closed. and of course the communities and small businesses that rely on these national treasures for their livelihoods will be out of customers and out of luck. in keeping with the broad ram fa i kas of a shutdown, i think it's important that everybody understand the federal government is america's largest employer. more than 2 million civilian workers and 1.4 million active duty military serve in all 50 states and all around the world. in the event of a government shutdown, hundreds of thousands of these dedicated public servants who stay on the job will do so without pay. and several hundred thousand more will be immediately and indefinitely furloughed without pay. what
FOX News
Oct 1, 2013 1:00am PDT
. this is an unnecessarily blow to america. to the economy and everyone. the house should pass a cr we've sent them so. madam president we are going to come into the morning and see what they've done tonight. i hope they'd understand tonight all they have to do is accept what he have to pass. all of the stuff they keep sending over here, so fixated on embarrassing our president, the president of the united states, they think an election is coming this month of. it happened last november. he was elected by five million votes. over what romney got. five million votes. wasn't too close. so it is too bad. madam president i'm going to ask this consent but i would ask that we're going to go out tonight come back at 9:30 in the morning. so consent is that we're going to recess until 9:30 tomorrow morning. but i want the senators who are here on the floor to be able to talk for five minutes each. last consent when the senate completes and adjourns until 9:30 tuesday, october 1 internal proceedings being approved today. and at that time, i would be recognized at 9:30. and that senate recess from 12:30 to 2:15. >> sen
CW
Oct 1, 2013 12:00pm CDT
the government and hurt our economy. unlike 1996 our country is still recovering from the worst recession in generations. we know that certain services and benefits that business owners depend on most people on hold. sort and offices along with every national park and monument must be closed. last night i signed legislation to make sure or 1.4 million active duty military are paid through the shutdown, hundreds of thousands of civilian workers many are still on the jump, many forced to stay home are not being paid. even if they have families to support and local businesses that rely on them. we know that the longer the shutdown continues, the worst the effects will be. more families will be hurt and more businesses will be harmed. and i urge house republicans to reopen the government'. allow the public servants who have been sent home to return to work. it is only going to happen when republicans realize they cannot get to hold the entire country hostage over ideological demands. i'm prepared to work with democrats and republicans to do the things that we need to do. although i should add
CSPAN
Sep 29, 2013 10:30am EDT
. with a debt ceiling looming, a fragile economy in recovery, and the threat of additional sequestration cuts, that will got our national defense, it is essential we come together to find common ground. one side cannot do it alone. in action or on these crucial issues could lead to disastrous results where our people and our nation for years to come. let me take a moment now to remind us all of just a few of the consequences if the government were to shut down. our troops will not be paid. national security will be put to death at risk. elderly and veterans may not get the assistance they rely upon. our businesses facing great uncertainty will take a hit. our economy will suffer. we must act responsibly to keep our government open and our country on stable economic footing. now and in the near future, we must also act as productive partners to keep the nation safe, provide our people with essential services, rain in unsustainable entitlement programs, and secure a responsible and realistic federal budget. we must remember we do this not just for ourselves and districts, but we do it for the n
CNBC
Sep 29, 2013 7:30pm EDT
, the economy growing at a rate of 2 and a half percent, so not great growth. ahead of earnings how would you characterize the fundamentals? >> i think they're actually improving. so what we look for in the key of the markets, we see the economy growing over 3%, keep in mind in the economy, the private sector has already been growing 3 to 4% currently. what is taking that back down is the sequester, to a percentage points of one to two, when that becomes neutralized, you will see the underlying activity come through. and that is why next year we'll see a positive surprise from a gdp standpoint, which obviously in terms of good profits, at least in our mind, will happen. >>> revenue was not great last quarter. >> revenue was not great last quarter. we believe it will be a transition year for revenue. so this year, normally we see about a 3% growth in revenue for the u.s. companies. but next year we believe that rate growth could go up to 6%, because normally we see an uptick in the u.s., we'll see an uptick globally. we have the major economies aligned, the uk, europe, the u.s., all the positi
Al Jazeera America
Sep 30, 2013 5:00pm EDT
. office billings will close. checks will be delayed. vital services that our economy depends on will be hamstrung. business owners would see delays in raising capitol, or rebuilding after hurricane sandy. veterans who have sacrificed for their country will find their support centers unstaffed. tourists will find every one of the national parks and monuments immediately closed. and the communities and small businesses that rely on these national treasures will be out of customers and out of luck. and in keeping with the brood ramifications of a shutdown, i think it's important that everybody understand the federal government is america's largest employer. more than 2 million civil workers and 1.3 million active duty military serve in all 50 states and all around the world. hundreds of thousands of these dedicated public surcan'ts who stay on the job will do so with pay, and several hundred thousand more will be furloughed without pay. of course what will not be furloughed are the bills they have to pay. these americans are our neighbors, their kid goes to our schools, they wor
Al Jazeera America
Oct 2, 2013 11:00am EDT
of happiness. >> don't wait. don't delay. don't put our economy or our people through this any longer. i am more than happy to work with them on all kinds of issues. >> randall pinkston joining us live from washington on the latest. good morning any progress to report? >> unfortunately no signs of progress. matter of fact the situation could become more complicated as the nation faces the debt ceiling later this month. the shoutdown is expected to furlough 800,000 federal workers across the nation, including tax checktors and food inspectors. >> i don't understand why the activity of the government should be stopped because of concerns about one aspect of legislation. >> reporter: the nation's capitol is being hit hard by the shutdown because tourism here is big business. visitors spend $6 billion a year, generating more than 70,000 jobs. from national parks to national museums here in the district it was the same story, doors shut, tourists disappointed. you are taking a bike tour here. was this part of your plan? >> no it wasn't. we just thought since we didn't get into the federally run
CSPAN
Sep 30, 2013 1:00am EDT
seven. there is something wrong with our economy or government. when one out of every seven families means the government to put food on their table. >> what is wrong with fairness and economics? >> i believe in fairness and growth and the reason i wrote this is the truth is i don't want to spoil the ending but the truth is the fair system of the mall is the free enterprise system. that's what creates the growth and jobs and the opportunity. when you have a free enterprise system that is what creates the highest living standard for the vast majority of the people. one of my concerns and motivation for this book is i believe we have moved away from the free enterprise system and have become too dependent on handouts. i'm not talking about welfare, payments to the welfare mothers or that lose their jobs. there is a massive corporate welfare in this country giving away hundreds of billions of dollars a year to corporations. i don't think the government should be picking winners and losers in the free market system. >> is it fair to tax people a different way and tax the wealthy people l
CNN
Sep 28, 2013 2:00pm EDT
national. go like a pro. >>> a self-inflicted wound that risks damaging the still fragile economy. this week the president laying out the policies and interests in the iran and the middle east process. back in washington, a fight over obama care that could shut down the government, but won't stop obama care. fareed zakaria, thanks for being here. leon panetta spelled out the price of governing from crisis to crisis. he wrote in an op-ed, u.s. citizens will lose truth and the world will view the united states as less able to back its word with power. >> how much does this struggle damages in the eyes of the world. >> i think it does. right now we don't have a competit competitor. there didn't seem to be much of a price to pay. the recovery is continuing, but there are two areas, first is the credibility of american government. our treasury bills are the reserve investments of the world. if that changes, if people start worrying about getting repaid, as they should frankly worry, given what we're doing, that would change things dramatically. it raises huge costs for the united state
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